比特幣市場損失了其價值的近五分之一

根據Coingecko的2025 Q1報告，由比特幣領導的加密貨幣市場在2025年第一季度損失了近五分之一

The cryptocurrency market experienced a significant downturn in the first quarter of 2025, losing nearly one-fifth of its value, according to CoinGecko’s 2025 Q1 Report.

根據Coingecko的2025 Q1報告，加密貨幣市場在2025年第一季度經歷了巨大的衰退，失去了近五分之一的價值。

This downturn follows a period of gains towards the end of 2024. The total market value decreased by $3.8 trillion to $2.8 trillion, a 18.6% decline over the quarter. The shift in market sentiment occurred after the inauguration of Donald Trump as US president, in contrast to last year’s rally.

這一衰退是在2024年底之前的一段時期的收益。總市場價值下降了3.8萬億美元，至2.8萬億美元，在本季度下降了18.6％。與去年的集會相比，唐納德·特朗普（Donald Trump）擔任美國總統就職後，市場情緒的轉變發生在美國總統。

The daily trading volume also saw contractions, dropping to $146 billion, a decrease of 27%.

每日交易量還看到收縮量，下降到1460億美元，下降了27％。

Bitcoin Insulates Itself

比特幣自我絕緣

Bitcoin (BTC) performed better than most other cryptocurrencies, with its market share reaching nearly 60%, the highest in four years. The king cryptocurrency achieved peak valuation at $106,182 in January, shortly after inauguration, but later fell by 12% to finish the quarter at $82,514.

比特幣（BTC）的表現比大多數其他加密貨幣都要好，其市場份額達到了近60％，是四年來最高的。國王加密貨幣在就職典禮後不久，一月份的高峰估值為106,182美元，但後來下降了12％，以82,514美元的價格完成了該季度。

In comparison, gold and US Treasury bonds, traditional safe-haven investments, performed worse than Bitcoin during this period.

相比之下，在此期間，黃金和美國國債，傳統的避風港投資比比特幣要差。

However, compared to Ethereum (ETH), the situation was worse. The price of ETH decreased by 45%, nearly erasing all gains in 2024. Its market share dropped to almost 8%, the lowest since the end of 2019.

但是，與以太坊（ETH）相比，情況更糟。 ETH的價格下降了45％，幾乎消除了2024年的所有收益。其市場份額下降到幾乎8％，是自2019年底以來最低的。

As observed by most analysts, this downturn occurred as more activities shifted toward “Layer 2″ networks built atop Ethereum, not using the Ethereum main network.

正如大多數分析師所觀察到的那樣，由於越來越多的活動轉向以太坊上建立的“第2層”網絡，而不是使用以太坊主網絡。

Meme Coins Hit Hard

模因硬幣猛烈打擊

The previously hot meme coin space also received a setback. Following a boom in Trump-themed tokens, the industry was hit hard when the Libra token, introduced by Argentina’s President Javier Milei, proved to be a scam.

以前的熱模因硬幣空間也遇到了挫折。在以特朗普為主題的代幣中蓬勃發展後，當阿根廷總統賈維爾·米利（Javier Milei）提出的天秤座令牌被證明是一個騙局時，該行業受到了巨大打擊。

The project was abandoned by developers who took investors’ funds, shattering confidence in such tokens. By late March, new token launches per day on the platform Pump.fun had dropped by over 50%.

該項目被開發人員放棄，他們拿走了投資者的資金，破壞了對這種代幣的信心。到3月下旬，新的代幣每天在平台泵上推出。 FUN下降了50％以上。

The decentralized finance (DeFi) industry also saw a decline, with the total money locked in DeFi projects decreasing by 27% to $48 billion during the first quarter. Ethereum’s dominance in the DeFi space decreased to 56% by quarter-end.

權力下放的金融（DEFI）行業也有所下降，第一季度鎖定的DEFI項目的總資金下降了27％，至480億美元。以太坊在Defi空間中的優勢下降到四分之一末的56％。

Stablecoins such as Tether (USDT) and USD Coin (USDC) became more popular with investors seeking a safer bet as the market tanked.

Tether（USDT）和USD Coin（USDC）等Stablecoins在投資者尋求更安全的賭注時變得越來越受歡迎。

Solana (SOL) retained its leadership, holding 39.6% of all decentralized exchange (DEX) trading during Q1, mostly due to meme coin mania. However, Solana’s leadership began to decline at the end of the period as the meme coin mania faded.

Solana（Sol）保留了領導力，持有第1季度所有分散交易（DEX）交易的39.6％，這主要是由於Meme Coin Mania。但是，隨著模因硬幣躁狂症的消失，索拉納（Solana）的領導能力開始下降。

The dramatic shift in market sentiment highlights how quickly cryptocurrency fortunes can change. After a promising end to 2024, the new year brought a harsh reality check for crypto investors, with nearly $1 trillion in market value disappearing in just three months.

市場情緒的急劇轉變凸顯了加密貨幣的命運可以改變的速度。在到2024年結束時，新年為加密投資者帶來了嚴厲的現實檢查，在短短三個月內，市場價值將近1萬億美元消失。